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IRS Bank Levy - State Bank Levies | IRS lawyer | Strategic Tax Lawyers

IRS Bank Levy - State Bank Levies

Has the IRS placed a levy on your bank account that froze your funds and made paying your bills nearly impossible? An IRS bank levy can cause all kinds of headaches – especially if you don’t have cash on hand for day-to-day living expenses. Access to your cash is limited or non-existent, depending on the amount of the IRS bank levy.

If you’ve had an IRS or State bank levy issued against your bank account, call us NOW, There is a 21-day window of opportunity for our attorneys to intercede and stop the State bank levy or IRS bank levy from tying up the funds in your account. We CAN and we will stop both IRS and State levies, but in order to do so, we must act quickly.

What is a bank levy?

An IRS bank levy is a legal seizure of property to satisfy your debts. Typically, bank levies occur after the IRS has sent you a letter stating that you owe taxes. If you refuse to pay the debt, don’t respond to the IRS’s correspondence, or fail to set-up a payment plan, the IRS or State has the power to enforce their demand with a wage garnishment or a levy.  Bank levies freeze the money in your bank accounts and seize the amount owed to the IRS or State. Even if there is not enough money in your accounts at the time the IRS bank levy is placed, the bank levy will take what is there, and your accounts will typically remain frozen until the debt is paid in full.

Unfortunately, a levy is not a one-time event. Bank levies can be issued multiple times until the debt is paid off. In addition, banks may charge penalties, interest, and fees for insufficient funds during this time. When your funds are frozen by a bank levy, bills can become past due, resulting in late fees. As you can see, a bank levy can end up costing a lot more than just the initial cost of the debt.

The IRS and other creditors (such as credit card companies) can place levies on any type of bank account, including savings and checking accounts. Although most bank levies occur in the U.S., creditors have the right to go after funds in offshore accounts.  IRS and State bank levies can be assessed on other assets as well.

For answers to common questions about bank levies, read our FAQs.

How We Can Help

Once our IRS tax lawyers intervene and determine the intentions of the IRS or other party who filed the bank levy, we’ll work fast to provide whatever is needed to stop the levy. We will also work to remove penalties and interest charges resulting from the bank levy, and get you access to your accounts as quickly as possible.   

When dealing with bank levies, we understand that time is critical to achieve results. We use our many years of IRS tax attorney experience to work swiftly and efficiently on any bank levy issue. We will ensure that you get your money back and the IRS bank levy matter is resolved once and for all. After the issue of the bank levy is settled, we’ll move quickly to negotiate a settlement for your tax debt and establish safeguards to make sure that no future levies are placed on any of your accounts.

It is not uncommon for our experienced IRS tax attorneys to settle our client’s tax debts for a fraction of what is owed. These settlements save clients thousands of dollars and ensure their assets are protected.   

Contact us today for a quick, FREE confidential consultation. Our qualified IRS tax lawyers can explain what options are available for the resolution of your IRS tax problem. We can help you with the financial issues you are facing because of IRS bank levies. Call us now at (800) NOW-IRS-LEVY.

Who We Are

Strategic Tax Lawyers, LLP is a team of Los Angeles tax lawyers who have been fighting for our client’s rights for over a decade. Need a Beverly Hills tax attorneySanta Monica tax attorney or Encino tax attorney? Let us help you resolve your tax issues and get your life back!

Need more information from the government and IRS about bank levies?  Check out what the IRS says about abank levy.  Find out the difference between a bank levy and a federal tax lien.  For more information, read about the bank levy procedure from Wikipedia.  You can also find what your local state has to say about a tax levy by using your state and bank levy as a keyword to search Google.

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